TOKYO (dpa-AFX) - Investment firm KKR & Co. Inc. (KKR) and its Japanese partner WEAVE LIVING announced agreements to acquire six residential properties in prime Tokyo.
These agreements are part of their strategic partnership, the Weave Living Japan Residential Venture I or WLJRV I, which was launched six months ago.
Under these plans, more than 240 fully-furnished luxury rental properties will be ready starting from fall 2025, catering to local professionals, expatriates, and corporate clients.
Three of the newly acquired properties are in the up-scale Minato ward neighbourhoods of Roppongi, Minami Azabu, and Shirokane. WEAVE LIVING will showcase its WEAVE RESIDENCES brand in Roppongi and Minami Azabu locations, which are spacious, fully furnished homes meant for families and executive tenants.
The remaining properties will be under the WEAVE PLACE brand, which offers private apartments with flexible furnishing options.
The companies noted that with the addition of these latest properties, the WLJRV I portfolio now includes 17 properties across the Japanese capital.
KKR is funding the investment through its Asia real estate strategy, thus continuing its important role in the Japanese real estate market. The agreement with WEAVE LIVING adds to the company's wide portfolio of real estate initiatives in the country, including its investment in REIT operator KJR Management.
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